CAN DO, Inc. announced a limited-time interest rate incentive for Pennsylvania Industrial Development Authority (PIDA) loan applications as well as terms and conditions for current and future PIDA interest rate policies.
PIDA announced a new 2 percent interest rate policy regarding loans that apply to real estate, machinery and equipment, working capital, and pollution prevention projects. For PIDA loan applications received on or before December 31, 2017, borrowers will receive a 2 percent interest rate fixed for the full term of the loan.
Under this incentive, PIDA loans can be used under the following terms: Real Estate (15-year term), Equipment (10-year term), and Working Capital (12-month term). Eligible applicants can borrow $35,000 for every job retained and/or $50,000 for every job created within three years of closing of the loan. Applications can be submitted through CAN DO, Inc.
Tosca, a provider of reusable packaging and supply chain solutions, is one of many companies making Hazleton a “hub” for their business. The company recently expanded the size of its facility in the Humboldt Industrial Park in order to support significant growth and to increase the facilities’ capabilities.
Tosca, which moved into the Humboldt Industrial Park in 2002, previously operated in a 25,000-square-foot service center. Now after an expansion to a 50,000-square-foot facility, doubling the site’s size and capabilities, Tosca plans on building the business further and leveraging the business infrastructure in Hazleton to get it done.
“The service center expansion not only adds more square footage for the business but enables the company to operate more efficiently,” Mike Wasson, Vice President of Supply Chain and Operations for Tosca, said. “The organization took the time during the expansion to reconfigure the floorplan layout for optimum performance, re-tool machines for faster turnaround time, add new dryers, and implement new automation capabilities. The company also continues to add new jobs in both management and maintenance at the Hazleton location.”
The $4 million building project includes a 13,500-square-foot facility that will house Butler Township’s police station, detention area, administration building and zoning office and an additional 4,300-square-foot police storage garage. Township officials expect to move into the new facility in February of 2018.
Butler Township officials finalized the purchase of the five-acre lot on Site 11 in the Corporate Center late last year. Butler Township was looking for a location that would help it better serve the township’s growing population in terms of emergency response time and convenience when conducting municipal business.
Located directly along the I-81 corridor in Northeast Pennsylvania and just minutes from I-80, Greater Hazleton offers an ideal location, just two hours to New York City and Philadelphia and within a day's drive of half the nation's population.